Irish Amarin Corp. plc, with research operations in the Mystic section of New London, said it sold an extra 1.8 million shares to its latest stock offering, clearing another $13 million in net proceeds to pay for developing a heart-disease treatment.
Amarin said Friday its underwriters excercised their option to purchase the 1.8 million American Depositary Shares, on top of the 13.8 million shares it was set to offer.
Based on a price of $7.60 a share, Amarin will clear, after offering fees and expenses, about $13 million more than its earlier estimate of about $87 million.
The money will add to its cash horde finance its clinical development and eventual marketing of a treatment for heart disease as well as for working capital and general corporate purposes.
